Sail Pension Scheme – SAIL has introduced a Pension Scheme for its ex-employees. In this article today, we will share important details about the Sail Pension scheme that has been launched by the concerned authorities. In this article, we will share important details such as the eligibility criteria, documents required, and also the registration process which has been finalized by the concerned authorities to undertake the procedure of registering their employees under the Sail pension scheme for the year 2020.
About Sail Pension Scheme
The Sail
Authority has organized a pension scheme which has been issued by the
guidelines as per the department of public Enterprises of the Government of
India. The pension scheme has been introduced with the approval of the Ministry
of Steel & SAIL Board. Through the implementation of this pension scheme,
pensions will be provided to the ex-employees of the concerned authorities
belonging to the Ministry of Steel and Sailboard in the Government of India.
प्रधानमंत्री श्रम योगी मानधन योजना
Details Of Sail Pension Scheme
| Name | Sail Pension Scheme |
| Launched by |
Ministry of Steel & SAIL Board |
| Objective | Providing pensions |
| Beneficiaries | Ex-employees |
| Official website | https://sail.co.in/ |
Beneficiary Covered Under Sail Pension Scheme
The following
beneficiaries are to be covered under the SAIL pension scheme:-
- Executives (including Management
trainees) on rolls of the Company on or after 01.01.2007 (including those
appointed at the Board level) - Non-executives (including trainees
recruited for eventual employment) on rolls of the Company on or after
01.01.2012. - New entrants –
- D.o.J
- after 1.1.2007 (Executives incl.
Board level Officers) - after 1.1.2012 (Non-executives) also
covered from the date of their joining SAIL
- after 1.1.2007 (Executives incl.
- D.o.J
Pension Contribution under Sail Pension Scheme
For Executives: Effective from 1.1.2007
| Time Duration | Pension Contribution |
| 1st Jan 2007 To 31st Mar 2015 | 9% of Basic Pay + DA |
| 1st Apr 2015 To 31st Mar 2018 | 3% of Basic Pay + DA |
For Non-Executives : Effective from 1.1.2012
| Time Duration | Pension Contribution |
| 1st Jan 2012 To 31st Mar 2015 | 6% of Basic Pay + DA |
| 1st Apr 2015 To 31st Mar 2018 | 2% of Basic Pay + DA |
Sail Pension Scheme Eligibility Criteria
The following
applications are eligible to apply for the SAIL pension scheme:-
- The applicant having a minimum of 15
years of service and superannuation from the Company. - Death/PTD/Medical invalidation leading to the cessation of Service – irrespective of the duration of service rendered
Important Documents
The following
documents are required while registering yourself for the pension scheme:-
- PAN Card
- Aadhaar Card of the
ex-employee/nominee - Cancelled Bank Cheque having the name
of the ex-employee/nominee printed on it - Proof of deposit of Voluntary
Contribution, if any. - Death certificate of
ex-employee/employee in case of deceased ex-employee/employee
Download Sail Pension Scheme Application Form or Apply Online
To register
yourself under the SAIL pension scheme you need to follow the simple steps
given below:-
- Visit the Official Website link given here
- Now at the Homepage of the website, you will get Sail Pension Scheme Option
- Enter details-
- SAIL personnel number
- PAN
- Bank account number
- Mobile
- Aadhaar number
- Upload photographs of self and spouse to complete the registration process.
- Submit the printed Annuity Application Formalong with the requisite documents for the start of the Annuity.
- The members/beneficiaries can view the details of the company contribution in their pension account, annuity plans, rates provided by the ASPs, pension calculator, scheme/policy, details of Nodal Officers of their Plant/Unit, etc. through the portal after logging in with the PAN and date of birth of the concerned ex-employee.